Lapd Rent Subsidy - Nearly $1 million was raised in two months for a new fund to support the rent of Los Angeles Police Department employees, close to the $1.2 million needed to start the flow of support.
Steve Soboroff, a longtime business and community leader who served as Los Angeles Police Commissioner for nine years and launched a campaign to support rent, said in an interview with the Business Journal last week that $995,000 was raised until May 24, in particular. are leaders in the real estate and financial industries.
Lapd Rent Subsidy
Soboroff said he has initial commitments from other potential donors as he expects the fund to surpass $1.2 million in a few days. If that happens, he said, funding could begin immediately.
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"We have an ongoing crisis," Soboroff said. "City leaders and candidates want to hire more officers - some candidates say up to 1,500 officers. But in reality, we lose three hundred officers a year because they don't have the money to stay here. hiring people quickly. "
Soboroff said there is no money from the state at any level to help cover the high cost of housing for LAPD employees. With a starting salary of about $70,000, new hires can afford to pay about $1,500 in rent each month, Soboroff said. But the rent for a one-bedroom apartment in Los Angeles is usually between $2,000 and $3,000 a month, leaving a gap of $1,000 or more. The subsidy program is designed to provide up to $1,000 per month, whether paid directly to employees or owners. Each tenant will pay subsidized rent for two years.
In total, the goal is to raise $4.8 million to provide rental funding for 200 LAPD hires over three years. In the first year, $1.2 million will be allocated to 100 employees; in the second year, another 1.2 million dollars will go to those employed and 1.2 million dollars will help the second batch of 100 workers. The third year sees the final $1.2 million paid to that second group of recruits.
Details on whether employees or owners will receive the payments are still being worked out, Soboroff said. Much will depend on whether the employee payments will be treated as taxable income. "We certainly don't want to tax employees," he said.
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Also, he said, not all employees will receive subsidies. The LAPD will conduct a background check to exclude employees who move into housing that is already owned or rented by family members or who have additional income.
Soboroff said last week that the fund received two donations of $240,000 each: one from billionaire and agribusiness giant Wonderful Co., West Los Angeles founders Stewart and Lynda Resnick, and the other from Casey Wasserman, Westwood's chief executive. Wasserman (formerly Wasserman Media Group).
He said real estate developer and owner Geoffrey Palmer contributed $120,000. Another $120,000 came from Soboroff himself, in partnership with the city's Weingart Foundation.
Paola Mendez graduated from Los Angeles Valley College, then transferred to the University of California, and now works as a Host and Office Assistant at the Los Angeles Business Journal. Paola wears many hats in different departments and is trilingual in English, Spanish and French. Los Angeles, CA - July 01: Graduates of the Los Angeles Police Department recruit class 1-22 at the Los Angeles Police Academy on Friday, July 1, 2022. Sarah Reingewirtz/MediaNews Group/Los Angeles Daily News via Getty Images
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The "Housing for Rent" program provides funding of up to $24,000 in housing in the city of Los Angeles for up to two years to new LAPD employees.
While rent is expensive in Southern California, full-time LAPD officers make about $80,000 to start. 24,000 in subsidies pushes that salary above $100,000 — above the median family income of $65,290 in the city of Los Angeles, according to the latest Census data.
Housing subsidy money does not come from the LAPD budget, but instead comes from private donations to the LAPD foundation.
The high cost of housing in California is an ongoing problem, especially for low-income professionals like teachers, so it's not uncommon for municipalities to try to provide affordable housing in an effort to attract new workers. The Jefferson Union High School District, south of San Francisco, is also using affordable housing as an advantage to attract teachers by offering them teacher's rooms built on school property at nearly half the current level in the area.
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